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Bank of America plans Capped Leveraged Index Return Notes on S&P 500
By Susanna Moon
Chicago, March 3 – Bank of America Corp. plans to price 0% Capped Leveraged Index Return Notes due March 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any index return, capped at 14% to 18%. The exact maximum will be set at pricing.
Investors will receive par if the index falls by up to 10% and will lose 1% for every 1% decline beyond 10%.
BofA Merrill Lynch is the agent.
The notes will price and settle in March.
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